APLS insider disclosure: recent sales totaling $330.6K; planned 5,000-share sale

Rhea-AI Filing Summary

Apellis Pharmaceuticals (APLS) Form 144 notice summarizing proposed and recent insider sales. The filing reports a proposed sale of 5,000 common shares through Fidelity Brokerage Services with an aggregate market value of $121,700 and an approximate sale date of 09/16/2025. It shows two prior restricted stock vesting events: 706 shares on 01/21/2024 and 4,294 shares on 01/21/2025, both as compensation. The filing lists three common-share sales by David O. Watson in the past three months totaling $330,600 in gross proceeds. The company has 126,289,910 shares outstanding as stated.

Positive

• Disclosure compliance: The filing provides required Rule 144 details including broker, share counts, acquisition dates, and gross proceeds, supporting regulatory transparency
• Vesting origin disclosed: The shares to be sold were acquired via restricted stock vesting as compensation, which clarifies the nature of the holdings

Negative

• Insider selling activity: The filing shows recent insider sales totaling $330,600 in the past three months and a proposed sale of 5,000 shares, which some investors may view negatively even though amounts appear small relative to outstanding shares
• No 10b5-1 plan date provided: The form does not indicate adoption of a written trading plan or instruction date, so readers cannot determine whether the proposed sale is under an automated plan

Insights

Securities Analyst

TL;DR: Routine insider disclosure showing modest planned sale and prior small insider transactions; not obviously material to valuation.

The Form 144 documents a proposed sale of 5,000 shares valued at $121,700 and prior insider sales totaling $330,600. Given the stated share count of 126,289,910, these transactions represent an immaterial fraction of outstanding equity. The filing clearly discloses acquisition dates and that the vested shares were compensation, which supports transparency. There is no additional financial performance data or company guidance in the filing to change a valuation view.

Corporate Governance Expert

TL;DR: Compliance-focused filing; provides required Rule 144 disclosures for insider sales and vesting, enabling market transparency.

The document meets Rule 144 reporting elements by identifying the broker, number of shares, acquisition details, and recent sales by the reporting person. It also includes the customary signature attestation about material nonpublic information. There are no statements here about trading plans, blackout dates, or 10b5-1 adoption, and the remarks section fields are blank, so no additional governance arrangements are disclosed.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	5000	121700.00	126289910	09/16/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/21/2024	Restricted Stock Vesting	Issuer			706	01/21/2024	Compensation
Common	01/21/2025	Restricted Stock Vesting	Issuer			4294	01/21/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
David O. Watson 100 Fifth Avenue Waltham MA 02451	Common	06/16/2025	5000	93850.00
David O. Watson 100 Fifth Avenue Waltham MA 02451	Common	07/16/2025	5000	97750.00
David O. Watson 100 Fifth Avenue Waltham MA 02451	Common	08/18/2025	5000	139000.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Apellis's Form 144 filed for APLS report?

The Form 144 reports a proposed sale of 5,000 common shares valued at $121,700 with an approximate sale date of 09/16/2025, acquisition details for vested restricted stock, and recent insider sales.

Who is the selling person named in the filing?

The filing lists sales by David O. Watson and shows his recent sales on 06/16/2025, 07/16/2025, and 08/18/2025 with gross proceeds totaling $330,600.

How many Apellis shares were reported outstanding in the filing?

The filing states 126,289,910 shares outstanding.

Were the shares being sold acquired as compensation or purchase?

The table shows the shares were acquired via restricted stock vesting on 01/21/2024 (706 shares) and 01/21/2025 (4,294 shares), and the nature of payment is listed as compensation.

What broker is handling the proposed sale for APLS shares?

The proposed 5,000-share sale is listed with Fidelity Brokerage Services LLC, 900 Salem Street, Smithfield, RI.

Does the Form 144 indicate a Rule 10b5-1 trading plan was used?

No. The filing leaves the fields for plan adoption or instruction date blank and does not state that a 10b5-1 plan was adopted.